Bybit said co-founder and CEO Ben Zhou met Georgian Prime Minister Irakli Kobakhidze in Tbilisi to discuss the country’s digital asset ecosystem, fintech development, and what the company described as responsible innovation in financial services. The company framed the meeting as a signal of its long-term commitment to Georgia as a regional hub for digital asset services.
According to the release, the discussion also touched on regulatory cooperation and wider collaboration between government and industry. The meeting was attended by Georgian Economy Minister Mariam Kvrivishvili, Head of Government Administration Levan Zhorzholiani, and Bybit Georgia co-founder and CEO Shota Lomtadze.
What happened
The announcement itself is less about a new product launch and more about political and regulatory positioning. Bybit used the meeting to underline that it wants to expand in Georgia through a compliance-first model rather than through a purely offshore crypto playbook.
The company said both sides exchanged views on fintech innovation, regulatory cooperation, and ways to support Georgia’s digital economy. Prime Minister Kobakhidze, according to the release, welcomed interest from international fintech firms and pointed to Georgia’s investment environment and digital innovation ambitions.
What Bybit says it has built in Georgia
Bybit said its Georgia strategy has moved well beyond exchange access. The company described a local footprint that now spans licensing, a localized platform, payments infrastructure, card issuance, and talks around banking integration.
According to the release, Bybit obtained a VASP license in the fourth quarter of 2024, launched a localized Georgian-language platform in July 2025, and secured a Payment Service Provider license in the fourth quarter of 2025. The company also said it launched its card product in Georgia in January 2026 and is in active discussions with a leading local bank on integrated crypto trading services.
That last point matters because it suggests Bybit is trying to move closer to everyday financial rails, not just trading activity. Still, the release describes the banking piece as an active discussion rather than a finalized partnership, so that part remains prospective for now.
How Bybit framed its local strategy
Zhou said Georgia is becoming a model for how crypto firms can integrate into a national financial system. In his telling, the company’s local strategy is built around licensing, payments, card issuance, and partnerships with stablecoin providers and banking institutions rather than a narrow trading-only presence.
Bybit also said it is working with regulators, banks, and other stakeholders on financial inclusion, digital literacy, and payments modernization. That language suggests the company wants to present itself not just as an exchange operator, but as part of broader financial infrastructure development in the country.
Why this matters now
This release fits a wider industry pattern: major crypto firms increasingly want to show regulators and governments that they can grow through licensing, payments, and institutional cooperation rather than through regulatory arbitrage alone. In this case, Bybit is using Georgia as an example of a market where that approach may be easier to execute.
It also shows how the next stage of crypto competition may be shaped by local rails. Licensing, fiat access, card programs, and bank relationships are becoming as important as spot volumes or token listings when exchanges try to build durable positions in specific markets.
For Georgia, the release presents crypto as part of a broader fintech and digital economy strategy. For Bybit, it is a chance to show policymakers and users that compliance-led expansion can still support product rollout and local market growth.
Why it matters for crypto
- It highlights that exchange expansion is increasingly tied to local licensing and payments infrastructure, not just trading access.
- It shows how crypto companies are trying to deepen ties with governments and regulators in markets they view as strategic.
- It points to cards, fiat rails, and banking integrations as core battlegrounds for exchange growth in 2026.
- It reinforces the idea that regional crypto adoption may depend as much on policy cooperation as on product demand.
What to watch next
- Whether Bybit turns its discussions with a Georgian bank into a formal, disclosed partnership.
- Whether the company publishes usage or adoption data for its Georgian card, payments, or localized platform business.
- Whether Georgia continues to attract more global crypto firms under a similar compliance-led model.
- Whether Bybit uses Georgia as a template for deeper payments and banking integrations in other markets.